Update on $6.5 Million Bought Deal Private Placement

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Montreal, November 15, 2019 – Quebec Precious Metals Corporation (TSX.V: CJC, FSE: YXEP, OTC-BB: CJCFF) (“QPM” or the “Company”) is pleased to provide an update on the previously announced $6,500,000 bought-deal private placement (the “Offering”). As a result of strong institutional demand for flow-through common shares in Quebec, the Company has added a third security to the Offering.

The Offering shall now consist of a combination of (a) charity flow-through common shares of the Company (the “Charity FT Shares”) at a price of $0.40 per Charity FT Share, (b) Quebec flow-through common shares of the Company (the “Quebec FT Shares”) at a price of $0.29 per Quebec FT Share and (c) common shares of the company (the “Hard Shares”) at a price of $0.22 per Hard Share.

The Offering is scheduled to close on or about November 22, 2019 and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including that of the TSX Venture Exchange.

About Quebec Precious Metals Corporation

QPM is a gold explorer with a significant land position in the highly-prospective Eeyou Istchee James Bay territory, Quebec, near Newmont Goldcorp Corporation’s Éléonore gold mine. QPM’s flagship project is the Sakami project with significant grades and well-defined drill-ready targets. QPM’s goal is to rapidly explore this project to advance it to the mineral resource estimate stage.

For more information please contact:

Jean-François Meilleur
President
Tel.: 514 951-2730
jfmeilleur@qpmcorp.ca

Normand Champigny
Chief Executive Officer
Tel.: 514 979-4746
nchampigny@qpmcorp.ca

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.